Fed Vows To Fight Inflation
6 articles from 4 countries
Federal Reserve Chair Jerome Powell declares high inflation will not be tolerated, stating the mission is incomplete despite a CPI slowdown. Meanwhile, Wall Street closed higher as US inflation data showed a decrease, with the euro strengthening against the dollar following the news.
Fed Chair Powell: 'Will Not Tolerate High Inflation,' Mission Not Complete Despite CPI Slowdown
- U.S. Federal Reserve Chair Jerome Powell stated that persistently high inflation will not be tolerated, emphasizing the central bank's commitment to price stability. - Powell indicated that the Fed will monitor economic indicators to determine the timing and strength of future policy actions, rejecting forward guidance on interest rate paths. - He acknowledged the recent slowdown in consumer pri…
Wall Street closes higher after US inflation falls
- Wall Street closed higher, with the Dow Jones Industrial Average rising slightly after inflation data showed a decrease. - The annual inflation rate in the United States fell to 3.5% in June, below …
Massive data center buildout poses latest inflation threat for consumers
- Massive investment in data centers for artificial intelligence is driving up costs for computer chips and electricity. - This surge in spending, projected to exceed $700 billion this year, is expect…
US inflation cools surprisingly to 3.5 percent
- US inflation unexpectedly slowed in June, with consumer prices rising 3.5% year-on-year. - The core inflation rate, excluding energy and food, also decreased to 2.6%. - The Federal Reserve may need …
'Dove' Waller says Fed may consider rate hikes if core inflation stays high
- A key Federal Reserve official, Christopher Waller, known as a "dove," indicated a potential interest rate hike if core inflation remains high. - Waller cited rising energy prices, tariffs, and AI i…
Euro Rises After US Inflation Data Shows Decline
- The euro strengthened against the dollar following a larger-than-expected drop in US inflation. - US inflation fell to 3.5% in June, reducing pressure on the Federal Reserve to raise interest rates …